Throughout the COVID pandemic, CFA® Program candidates have faced unprecedented challenges in their testing journey.
To the extent possible, CFA Institute has worked to support individuals who dealt with impacted study schedules, testing site closures, deferrals, and more. With pandemic restrictions starting to shift in some parts of the world, we revisited our policies to ensure they were still relevant.
Understanding that there will continue to be instances of COVID exposure and infection, after careful review, we have revised our deferral policies to adjust for those eventualities.
Beginning at 9 a.m./ET on 12 January 2022, CFA Institute will discontinue the open-ended deferral policy implemented during COVID. Changes to the standard and non-standard policies, along with the rescheduling fee policy, are outlined below.
Updated Deferral Policies
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Standard: If candidates have a documented positive COVID test within 14 days of the exam date, candidates can reschedule at no additional cost within 12 months, provided there is space available at a testing site. Seating in a preferred test center or city is not guaranteed.
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Non-standard: If candidates think they have been exposed to COVID and/or experience flu-like symptoms within 14 days of the testing date, but do not have a positive diagnosis, they may defer once at no additional cost and must wait nine months before sitting for the exam; CFA Institute will determine when the candidate will sit for the deferred exam.
Rescheduling Fee
If a candidate needs to change their scheduled appointment within their current exam window, a fee of $250 will be reimplemented starting on 1 January 2022.
Candidates were notified of these changes on 9 December 2021. To help you understand what these changes mean for our candidates,
Please continue to direct any media inquiries you receive to PR@cfainstitute.org and candidate inquiries to the Global Contact Center. We thank you for your continued support of our candidates.
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